SHARED OWNERSHIP
Hunter & Cole Associates is an independent financial services company based in Waterlooville. We have a great team of seasoned mortgage advisers who help people achieve their goals of owning their own home. Depending on your budget, a shared ownership mortgage may allow you to get on the property ladder quicker than you thought possible.
Shared ownership is a government backed scheme. Unlike standard mortgages, you only buy a portion of your home and pay rent of the portion you do not own. It is great for people starting out as it enables them to build equity in a property, which they can increase over time.
THERE ARE SEVERAL TYPES OF SHARED OWNERSHIP MORTGAGES INCLUDING:
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Fixed rate - the interest rate you pay on your mortgage will be fixed for a period of time, usually between 2 and 5-years
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Variable rate - With this your interest rates are linked either to the Standard Variable Rate (SVR) or the Bank of England base rate
DO I QUALIFY:
If you are a first time buyer, existing shareholder or anyone who wants to purchase a home you may be eligible if your credit meets the requirements, and your income is less than £80,000 a year (£90,000 a year if you live in London).
IMPORTANT INFORMATION
Your home may be repossessed if you do not keep up repayments on your mortgage.
